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Statoil to Invest Up to $333 Million on Offshore Digitalization in Norway
March 12, 2018
Statoil will invest DKK1-2bn ($166-333m) in digital technology up to 2020 in Norway to enhance its operations by opening an integrated operations support center (IOC) and a drilling operations center. By establishing the two facilities, the energy giant aims to
ONGC Videsh Receives Approval to Develop Golfinho-Atum Natural Gas Field, Mozambique
March 12, 2018
ONGC Videsh Limited — a wholly owned subsidiary of ONGC, the National Oil Company of India, announced that the Government of Mozambique has accorded approval for the Development Plan for Golfinho-Atum natural gas field in the Area 1 block located
Philippines Earmarks Two Sites for Joint Oil Exploration with China, South China Sea
March 8, 2018
Reuters reported that the Philippines recently identified two areas in South China Sea where joint exploration for oil and gas may be undertaken with China, including one in territory that both sides have argued over for years. The two countries
ExxonMobil Outlines Aggressive Growth Plans to More than Double Earnings
March 7, 2018
ExxonMobil outlined an aggressive growth strategy to more than double earnings and cash flow from operations by 2025 at today’s oil prices. “We’ve got the best portfolio of high-quality, high-return investment opportunities that we’ve seen in two decades,” said Darren
PetroVietnam and SCG Begin Construction on $5.4 Billion Long Son Petrochemical, Vietnam
March 6, 2018
Vietnam’s state-owned oil and gas firm PetroVietnam and Thailand’s Siam Cement Group (SCG) have commenced construction on the $5.4bn Long Son Petrochemical (LSP) Complex in the southern province of Ba Ria-Vung Tau, Vietnam. The project is being developed through the
Energean Secures Funding for $1.6 Billion Karish Gas Field Project, Offshore Israel
March 6, 2018
Energean Oil & Gas subsidiary Energean Israel has signed $1.275bn loan agreement with four international banks to fund the development of the Karish gas field located in the Levant Basin of the Mediterranean Sea, offshore Israel. The facility agreement has
Subsea 7 to Acquire Siem Offshore’s Subsidiary and Two Vessels for $172 Million
March 5, 2018
Subsea 7 has agreed to acquire Germany-based Siem Offshore Contractors (SOC) and two vessels, Siem Aimery and Siem Moxie from Siem Offshore for a total price of €140m. The UK-based Subsea 7 expects the transaction to boost its presence in
Total Acquires Maersk Oil & Gas for $7.45 Billion
March 5, 2018
The Danish Energy Agency has approved the A.P. Møller – Mærsk’s proposed sale of its subsidiary Danish exploration and production company Maersk Oil & Gas (Maersk Oil) to global oil major Total for $7.45bn. As per the deal signed in
Santos and GLNG Partners to Invest $705 Million in Queensland Gas Fields
March 1, 2018
Australian gas producer Santos and its Gladstone LNG partners will invest A$900m ($705.3m) this year to develop certain gas fields in Queensland. The investment will be used for funding upstream developments in the Maranoa, Western Downs, Banana and Central Highlands
Global Oil Supply to Lag Demand after 2020 Unless New Investments are Approved
March 1, 2018
Global oil supply could struggle to keep pace with demand after 2020, risking a sharp increase in prices, unless new projects are approved soon, according to the latest five-year oil market forecast from the International Energy Agency. The global picture
